MTN Zambia Zero-Rates Transactions on Mobile Money Platform

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The coronavirus pandemic has disrupted world economies and international travel relations, leaving thousands of people practising self-isolation and social distancing in order to curb the spread. However, another way that COVID-19 is transmitted, according to the World Health Organisation (WHO), is through the exchange of banknotes.

With this in mind, CEO of MTN Zambia, Bart Hofker says “as a result of the foregoing, MTN Zambia recognises the urgent need to go cashless to slow down the spread of the virus, hence, the organisation has zero-rated the mobile money transfer up to K150 and has doubled the mobile money transaction limits in response to Covid-19.”

The company is believed to be working closely with the Bank of Zambia.

“It is no secret that Coronavirus is spreading like wildfire through the world and we have realised that there is an urgent need to go cashless and use MTN Mobile Money. We are calling it the ‘No cash, No germs, Go MoMo’ campaign,” says Komba Malukutila, Chief FinTech Officer of MTN Zambia.


“We are giving our customers that are not on MoMo a chance to join the biggest Mobile Money platform in Zambia and to get people started we are giving a K2 to our customers.”

In addition, MTN Zambia has increased the ewallet holding and transactions limits, effective 19 March 2020:  

Individuals Tier 1-from K10,000 limit to K20,000 (with maximum wallet holding amount of K100,000)

Tier 2- from K20,000 daily limit to K100,000 (with maxi wallet holding amount of K500,000)

Small scale & SMEs From K250,000 to K1,000,000
Agents From K2,000,000 to no limit
Corporates  From K2,000,000 to no limit

 

Edited by Jenna Delport
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